February 12, 2015 / 5:12 AM / 3 years ago

Swiss stocks - Factors to watch on February, 12

ZURICH, Feb 12 (Reuters) - Swiss stocks were expected to open a touch higher on Thursday, with Credit Suisse set to be favoured by investors after disclosing plans to combat the strong Swiss franc as part of fourth-quarter earnings.

The Swiss blue-chip SMI was seen opening 0.1 percent higher at 8,588 points, according to premarket indications by bank Julius Baer, while the SMI future was 0.4 percent higher at 8,503.

The following are some of the main factors expected to affect Swiss stocks on Thursday


Swiss bank Credit Suisse on Thursday outlined measures to deal with the strong Swiss franc, as fourth-quarter net profit beat analysts’ estimates and it proposed an unchanged cash dividend of 0.70 Swiss francs per share for 2014.

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Credit Suisse is preparing to move a London and Paris-based trading team out of its investment banking unit and into its asset management arm to raise external capital, sources familiar with the matter said.

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Zurich Insurance Group ZURN.VX said it would keep its dividend stable at 17 Swiss francs per share for 2014, falling short of some analysts’ expectations for a rise, after its full-year net profit declined less than expected.

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* Sika said a court in Zug, Switzerland decided not to grant an emergency injunction against its controlling shareholder, the Burkard-Schenker family, which had been seeking to lift a limit on its shares imposed by the Swiss chemicals company during an ongoing battle over a takeover by Saint-Gobain .

* Sulzer said full-year net profit rose 17 percent to 275 million francs even as order intake edged 0.6 percent lower, and proposed to increase its dividend 3.50 francs per share.

* Barry Callebaut said it signed a new, long-term outsourcing agreement with World’s Finest Chocolate to supply chocolate demand and establish a new chocolate manufacturing base in Chicago, Illinois, in a bid for additional growth in the Midwest.

* Georg Fischer said Swiss employees will begin working 44 hours per week with immediate effect as part of the company’s measures in response to the recent surge in the Swiss franc when the currency was floated freely by Switzerland’s central bank.

* Gurit said it will restructure its components business, including investing 6 million francs to bolster volume at an existing production facility in Hungary and reduce staff at a site in Newport, Isle of Wight by up to 90 people.

* Lonza said it will manufacture material for TiGenix’s eASC product, Cx601, a stem cell-based treatment of complex perianal fistulas in Crohn’s Disease.

* Komax said it is acquiring the remaining 40 percent of SLE quality engineering with retroactive effect from 1 January for an undisclosed price, after acquiring 30 percent in 2011 and another 30 percent last year.

* Geberit said it tendered 99,080,684 shares in Sanitec, corresponding to 99.27 percent of the voting rights in the Nordics ceramic maker.

* Sunrise said on Wednesday that a total of 33.4 million shares have been sold in the IPO.

* Mobimo said net operating profit was down on the extraordinarily profitable prior year at 63.2 million francs, but it will nonetheless pay an 9.50 franc per share dividend.


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